Teacher Retirement System of Texas Has $483,000 Holdings in Rapid7, Inc. (NASDAQ:RPD)

Teacher Retirement System of Texas lessened its holdings in Rapid7, Inc. (NASDAQ:RPD) by 20.1% during the 4th quarter, Holdings Channel reports. The firm owned 8,458 shares of the technology company’s stock after selling 2,126 shares during the period. Teacher Retirement System of Texas’ holdings in Rapid7 were worth $483,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC grew its stake in shares of Rapid7 by 3,367.9% during the fourth quarter. International Assets Investment Management LLC now owns 971 shares of the technology company’s stock worth $55,000 after purchasing an additional 943 shares during the period. Financial Connections Group Inc. acquired a new position in shares of Rapid7 during the 4th quarter worth about $95,000. Allspring Global Investments Holdings LLC grew its position in shares of Rapid7 by 13.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,917 shares of the technology company’s stock worth $134,000 after buying an additional 336 shares during the period. Headlands Technologies LLC bought a new stake in shares of Rapid7 in the 3rd quarter valued at about $162,000. Finally, Cerity Partners LLC acquired a new stake in shares of Rapid7 in the 4th quarter valued at approximately $206,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Rapid7 Trading Up 0.1 %

Shares of RPD opened at $38.02 on Monday. Rapid7, Inc. has a 12 month low of $35.22 and a 12 month high of $61.88. The firm has a fifty day simple moving average of $45.07 and a 200 day simple moving average of $51.91. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -18.55 and a beta of 1.01.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $205.10 million during the quarter, compared to the consensus estimate of $204.10 million. Rapid7 had a negative net margin of 15.14% and a negative return on equity of 31.09%. As a group, research analysts predict that Rapid7, Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RPD has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Rapid7 from $56.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Scotiabank began coverage on shares of Rapid7 in a report on Friday, April 26th. They issued a “sector perform” rating and a $46.00 price target for the company. Stifel Nicolaus dropped their price objective on Rapid7 from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Truist Financial decreased their target price on Rapid7 from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Finally, JPMorgan Chase & Co. dropped their price target on Rapid7 from $61.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.73.

Insider Activity at Rapid7

In related news, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total value of $1,683,751.89. Following the completion of the transaction, the chief operating officer now directly owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Andrew F. Burton sold 20,653 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $48.73, for a total transaction of $1,006,420.69. Following the transaction, the chief operating officer now directly owns 236,841 shares in the company, valued at approximately $11,541,261.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew F. Burton sold 31,727 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $1,683,751.89. Following the completion of the sale, the chief operating officer now owns 257,494 shares of the company’s stock, valued at $13,665,206.58. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.